E-Trade details hiring, spending plans amid Schwab-TD Ameritrade deal - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 51%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

E-Trade just unveiled its plan of attack to nab advisers and investors 'lost in the shuffle' in the Schwab-TD Ameritrade deal — it includes a hiring push and marketing blitz in an industry that's under huge cost pressures

— E-Trade was planning to cut advertising and marketing spend significantly into 2020. But now the firm has changed that tune, and see holding those expenses closer to 2019 levels, a theme the chief executive had hinted at during an industry conference in December. The firm also said it would hire more financial consultants, up from about 410 now to more than 450 by year-end 2020 and more than 500 by 2021.

The broader industry's move to axe online trading commissions comes as incumbent players across financial services have bowed to intense cost pressures. "I think there's a lot more consternation in the market if you will. You can just see it," he said. "If you take a look at any of the RIA publications that are out there, a lot of the smaller and medium-size RIAs are concerned.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Trump is threatening a damaging new trade war with the United Kingdom after Brexit - Business InsiderDonald Trump is threatening a damaging new trade war with the United States' closest longstanding ally. Trump is just destroying the world God Bless America 👻 His face looks mentally unwell trump
Source: BusinessInsider - 🏆 729. / 51 Read more »